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Article: Sea Containers to Sell Silja Ferry Business to Tallink for US$594 Million.
- Article from:
- PR Newswire Europe
- Article date:
- June 12, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HAMILTON, Bermuda, June 12 /PRNewswire/ -- Sea Containers Ltd. (NYSE: SCRA and SCRB, www.seacontainers.com) and AS Tallink Grupp (TSE:TAL1T ET, www.tallink.com) jointly announced today that they have entered into a definitive agreement whereby Sea Containers will sell its Baltic ferry subsidiary Silja Oy Ab to Tallink for a consideration of approximately US$594 million in cash and shares.
The consideration for the sale of Silja's core business is EUR450 million cash and 5 million ordinary shares in Tallink. The dollar equivalent values are approximately US$570 million cash and US$24 million in shares. Tallink's shares are listed on the Tallinn Stock Exchange ...